Data for Sale

Facebook CEO Mark Zuckerberg apologizes about misuse of data and CEO of Cambridge Analytica Alexander Nix explains how data can be used.

An industrial revolution is underway with big data driving efficiency and innovation. More than half of US companies report using big-data analytics compared with 17 percent just two years ago, reports Forbes. “News reports that Cambridge Analytica swept up details on millions of Facebook users – then used details for targeted political advertising in many countries – jolted industry, regulators and users,” writes Susan Froetschel, editor of YaleGlobal Online. Yet consumers have a choice on how much data to share and with whom, and technology companies are generally upfront about the hunger for data in terms-of-service agreements and privacy policies. “With up to 5,000 data points on over 230 million American voters, we build your custom target audience, then use this crucial information to engage, persuade, and motivate them to act” and also “produced decisive results for campaigns and initiatives throughout the world,” explains Cambridge Analytica’s website. Big-data analysis is shaping communities, and even the most cautious among us cannot escape the consequences. – YaleGlobal